This turned out to be an incredible swing play (didn’t take part in it). And we saw yet again the correction level of 429 act as major resistance yesterday and today…. My other post I said to watch this level for resistance and could be a good put entry for the other leg of the swing play. From here I think this swing play is done…… I feel like spy will track sideways for a bit maybe come back up to test correction level again but I am long term bearish and whatever short term rally we have should be short lived…. These 50bps rate hikes are essentially token rate hikes and inflation is not done yet. To be determined, but personally I think puts above 429 is a great opportunity for on some longer dated puts for 400 level probably for July to give some room for safety in the event spy rallies a tad higher from correction levels.
Started to buy this down a bit
Finally had settled cash in 1dte spy puts, closed my 1 overnight spy put I bought at 4:14pm for 30% this morning
Edit: wide trailing stop on now pt 420
These are turning out to be very bad calls so far… mostly wiped out. Thankfully 5/20 SPY 425C got stopped out at open.
Closed most my positions near open, oil spiking, 2 yr not going up & 10yr not dipping, weakened euro and pound, and no signs of inflation being controlled abroad.
- took an L on NFLX @0.65.
- lost out on most gains on TSLA but closed at open
- closed FTNT at open for some solid gains.
Entered CHGG May 20 puts @ 1.15
Stopped out on spy puts 4buy 5.5sell.
Gonna try to swing some tesla puts here, got 2 5/6 850p
In 1 spy call for 4/06 at 424. Might be a loser but last play for today other than trying to close out more positions to have more cash for scalps
Based on the RSI on SPX, Nasdaq and Dow, it looks like we’re going to get a pump soon. The RSI is about to cross the MA on SPX and Nasdaq on the 5 min while Dow already crossed. Also we’re very oversold right now so we can get a small oversold bounce before continuing lower. Don’t try to predict the bottom though, see the bounce and play that
Forget gfv, in another call this one 416c, rally yesterday too much, sell off today to much.
Last call out. SPY, Nasdaq and Dow all look like a bear flag about to rip down again. Be careful here. I would honestly not even touch calls right now. Just wait for better put entries and if you have to, average down
Stopped out again… guess it’s a -15 or more day wow
SPY could get rejected here imo, top of the channel on the 1m and I don’t see a big reason for a reversal right now. Keep stop losses tight on puts because spy is a meme stock and can go full retard whenever it wants to.
Suggest you sell spy puts here if u played my scalp
This VIX downtrend line has told us the bottom like 3-4 times. If VIX reaches 33-34, it’s a good risk/reward for longer spy calls. But we could always just say fuck this and die
Sold one put for 150% holding the other
Sold the other one for 125% dont like the way spy is trying to push up rn
grabbed HD 330c Jul
TSLA 1050c may20